Hoboken-based Vytalize Health, a leading risk-bearing provider enablement platform, announced Wednesday morning that it has acquired a majority interest in physician-led Independent Physician Association of New York, one of the largest physician associations in the country, with more than 3,000 providers.
The deal builds on an existing partnership between the organizations dating back to 2020 and accelerates Vytalize Health’s expansion into Medicare Advantage, commercial plans and Medicaid, as well as multispecialty care, co-founder and CEO Faris Ghawi said.
The transaction took place by Vytalize Health taking a controlling interest in IPA NY’s management company, Practice Management of America. PMA provides clinical care management, care coordination and administrative services across more than 1,000 locations.
Terms of the deal were not disclosed.
“IPA NY is a longtime partner that shares our commitment to supporting independent physicians and helping them succeed in delivering high-quality, value-based care,” Ghawi said. “This acquisition is a natural extension of our alliance and will further improve access to high-quality, value-based care in the New York region and across the U.S.”
IPA NY is headquartered in Suffolk County. Its founder and CEO, Michael Guarino, said the vision for PMA was to find the right strategic partner to help accelerate the full potential of value-based care for its robust network of primary and specialty care providers.
“Vytalize Health is an emerging market leader and, together, we can bring superior data and technology to engage and strengthen independent providers,” he said. “This ensures their patients come first and they receive the ‘right care at the right place at the right time’ and receive comprehensive care that improves their outcomes while also reducing health care costs overall.”
Vytalize Health provides an all-in-one solution, including value-based incentives, smart technology and a virtual and in-home clinic that enables independent practices to succeed in value-based care arrangements. Vytalize Health’s care delivery model transforms health care for hundreds of thousands of patients across the country.
Earlier this year, Vytalize Health announced a $100 million funding round to accelerate its goal to advance responsible value-based care for seniors by strengthening primary care practices.